Blackstone Reports Record Full Year Revenue, Assets Under Management,
and Public Company Earnings

January 31, 2013 08:00 AM Eastern Time

NEW YORK--(BUSINESS WIRE)--Blackstone (NYSE: BX) today reported its full year and fourth quarter
2012 results.

Stephen A. Schwarzman, Chairman and Chief Executive Officer, said, “The
fourth quarter of 2012 capped a year of record financial performance for
Blackstone, with full-year revenues of over $4 billion and economic net
income of $2 billion, our best results since becoming a public company
over five-and-a-half years ago. We’ve generated consistently strong
investment performance for our limited partner investors across market
cycles since our inception 28 years ago, and 2012 was no exception, with
all of our businesses beating their respective benchmarks. Our favorable
performance continues to support the positive cycle of further growth,
as our current investors reinvest with us and we also attract new
investors around the world. For the full year we reported gross organic
capital inflows of $34 billion, and returned $18 billion to our
investors, resulting in record total assets under management of
$210 billion, up 26% year over year.”

Blackstone issued a full detailed presentation of its full year and
fourth quarter 2012 results which can be viewed at www.Blackstone.com.

Distribution

Blackstone has declared a quarterly distribution of $0.42 per common
unit to record holders of common units at the close of business on
February 11, 2013. This distribution will be paid on February 19, 2013.

For 2013, Blackstone intends to increase its base quarterly distribution
to $0.12 per unit, up 20% from $0.10 per unit. Any excess net cash
available for distribution to common unitholders will also be
distributed each quarter as earned. The move to accelerate
distributions, rather than rely on a final quarterly “true-up”
distribution, is designed to better align distributions with current
Distributable Earnings.

Quarterly Investor Call Details

Blackstone will host a conference call on January 31, 2013 at
11:00 a.m. ET to discuss full year and fourth quarter 2012 results. The
conference call can be accessed via the internet on www.Blackstone.com
or by dialing +1 (877) 391-6747 (U.S. domestic) or +1 (617) 597-9291
(international), pass code 149 943 55#. For those unable to listen to
the live broadcast, a replay will be available following the call at www.Blackstone.com
or by dialing +1 (888) 286-8010 (U.S. domestic) or +1 (617) 801-6888
(international), pass code 791 083 67#.

About Blackstone

Blackstone (NYSE:BX) is one of the world’s leading investment and
advisory firms. We seek to create positive economic impact and long-term
value for our investors, the companies we invest in, the companies we
advise and the broader global economy. We do this through the commitment
of our extraordinary people and flexible capital. Our alternative asset
management businesses include the management of private equity funds,
real estate funds, hedge fund solutions, credit-oriented funds and
closed-end funds. Blackstone also provides various financial advisory
services, including financial and strategic advisory, restructuring and
reorganization advisory and fund placement services. Further information
is available at www.Blackstone.com.
Follow Blackstone on Twitter @Blackstone.

Forward-Looking Statements

This release may contain forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934 which reflect Blackstone’s current views
with respect to, among other things, Blackstone’s operations and
financial performance. You can identify these forward-looking statements
by the use of words such as “outlook,” “believes,” “expects,”
“potential,” “continues,” “may,” “will,” “should,” “seeks,”
“approximately,” “predicts,” “intends,” “plans,” “estimates,”
“anticipates” or the negative version of these words or other comparable
words. Such forward-looking statements are subject to various risks and
uncertainties. Accordingly, there are or will be important factors that
could cause actual outcomes or results to differ materially from those
indicated in these statements. Blackstone believes these factors include
but are not limited to those described under the section entitled “Risk
Factors” in its Annual Report on Form 10-K for the fiscal year ended
December 31, 2011, as such factors may be updated from time to time in
its periodic filings with the Securities and Exchange Commission, which
are accessible on the SEC’s website at www.sec.gov.
These factors should not be construed as exhaustive and should be read
in conjunction with the other cautionary statements that are included in
this release and in the filings. Blackstone undertakes no obligation to
publicly update or review any forward-looking statement, whether as a
result of new information, future developments or otherwise.

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